Four industrial houses are among the firms that have expressed interest in Bliss City, an approximately ₹3,000-crore wellness and wholesome entertainment destination that Kochi Metro Rail Limited (KMRL) has envisaged on 31 acres at Kakkanad, to mobilise alternative revenue for the metro’s operation and maintenance, it is learnt.
The government had handed over 17 acres to the metro agency, while the rest is expected in tune with the progress of preparatory work for the venture. Most metro agencies across the country bank on revenue from such real estate holdings to make up for operational and allied losses.
Having readied a 3-D design, KMRL is ready with a marketing strategy to woo investors to the venture. “Once realised in another five years, this will be a city inside a city, one that leaves zero carbon footprint. The investor will ready the infrastructure on land that we will lease out. Emphasis was given to healthcare and entertainment, since Kerala is already a reliable, known brand in these spheres,” sources in the metro agency said.
The treatment will be on par with global standards. They could also include AYUSH streams. Revenue from Bliss City and the number of daily commuters touching the 2 lakh mark will hold the key to turn the Kochi metro around as a self-sustaining mode of mass rapid transport, especially so since the soft loan (from French development assistance agency AFD) ought to be repaid in 25 years. This will take substantial monetary burden off the State government. More footfall in the metro is in turn expected to translate into higher non-ticketing income, since advertisements and commercial spaces will fetch more income, they added.
Advertisers are also expected to bring in digital ads, with each screen taking turns in showing around a dozen ads. KMRL is in the process of readying a sound marketing strategy to mobilise alternative revenue, it is learnt.
